Ready to visit and hopefully buy

[Queenkate]

Hi all

so glad I found you!

my name is Kate and I have visited LT in the past.
I own a small boutique hotel in Key West Florida and am ready for a new adventure.

Coming back to the DR on the 22nd to look at property. Interested in a villa. I have been looking at LT specifically Las Ballenas, Bonita, and Coson beach areas.

i am now thinking of Cabarete as I have heard there are more English speaking expats living in that area And it appears that real estate is less expensive.

concerned about spending too much at this time, as it doesn’t appear that prices are dropping, even though I found a discussion on this site about prices needing to drop due to the pandemic.

what are your impressions of the two areas and he future of the island, property values and the future of tourism in the DR?

i would not be a full time resident and would like to rent out a property when not in use by myself and family.

I would so appreciate any suggestions.


best,

Kate

 

[RDKNIGHT]

Morning Ms Kate ... the prices may not have drop on the web sites but trust me there is no one buying. if they want 500K offer 350k .
as far as the areas all nice with tons of Expats,.. one thing I will say is the renting business is in the tank. so if you are figuring to get 1k a month you should think 750

 

[windeguy]

A couple of thoughts.

I was going to ask how your French was, but then noticed you asked about Cabarete instead of LT. Good thinking on your part, if I say so myself.
But then, Cabarete is where I live.


There are a couple of nice villas for sale in my development. They have been on the market for YEARS while others, some just built and smaller, here have sold
fairly quickly. Both are two story homes similar to what I had in California just before I moved here. One owner has dropped their price
very substantially and the other has not. The lower priced house had an offer but the owner's financing fell through after the couple came from the US to sign the deal. Disappointing for them.

Renting out is very difficult to do when you are not here in country. Others can recommend an agency that does this.
I have been here 17 years full time and cannot recommend one. The renting business is definitely in the tank.
It was in the tank before CV19. Airbnb recruited more renters than there are clients to rent.

 

[windeguy]

What some people feel prices need to do is irrelevant in the discussion. Each owner has unique situations. The concept is to find one that wants out,
and make a low offer.

Since there is no property tax here and association fees are very low, at least where I am, some owners can wait and wait and wait for their price.

 

[lifeisgreat]

Dominican Republic is the best place in the world!!! To visit!! Stay and live!
Only place I’m sure to come with 2 Million and leave with 1m ... think long and hard before you open business here it’s rough road with a lot of heart ache..goodluck with your choice

 

[ctrob]

... think long and hard before you open business here it’s rough road with a lot of heart ache..goodluck with your choice

She didn't say she was depending on the rental income to survive. Many people rent out their units to help pay expenses. It's a tourism destination - so why not?
I rent out my own, and help clients with managing theirs. It's not rocket science, but you should have some real estate experiance to get max returns and avoid problems.

 

[Queenkate]

Morning Ms Kate ... the prices may not have drop on the web sites but trust me there is no one buying. if they want 500K offer 350k .
as far as the areas all nice with tons of Expats,.. one thing I will say is the renting business is in the tank. so if you are figuring to get 1k a month you should think 750

thanks for the advice

 

[Queenkate]

She didn't say she was depending on the rental income to survive. Many people rent out their units to help pay expenses. It's a tourism destination - so why not?
I rent out my own, and help clients with managing theirs. It's not rocket science, but you should have some real estate experiance to get max returns and avoid problems.

I am not dependent on the rental income, just thought I might rent out while not there.

 

[Queenkate]

A couple of thoughts.

I was going to ask how your French was, but then noticed you asked about Cabarete instead of LT. Good thinking on your part, if I say so myself.
But then, Cabarete is where I live.


There are a couple of nice villas for sale in my development. They have been on the market for YEARS while others, some just built and smaller, here have sold
fairly quickly. Both are two story homes similar to what I had in California just before I moved here. One owner has dropped their price
very substantially and the other has not. The lower priced house had an offer but the owner's financing fell through after the couple came from the US to sign the deal. Disappointing for them.

Renting out is very difficult to do when you are not here in country. Others can recommend an agency that does this.
I have been here 17 years full time and cannot recommend one. The renting business is definitely in the tank.
It was in the tank before CV19. Airbnb recruited more renters than there are clients to rent.

My French is horrible! Sad to say. Where is your development? Name? Agency properties are listed with?
I do indeed see LOTS of rentals available.

I do want a villa, preferably one story or at least some bedrooms on the first floor, with a pool and close to restaurants???

Is there a particular area of Cabarete that you recommend?

Thanks ALL for your replies!!!!

 

[Queenkate]

Dominican Republic is the best place in the world!!! To visit!! Stay and live!
Only place I’m sure to come with 2 Million and leave with 1m ... think long and hard before you open business here it’s rough road with a lot of heart ache..goodluck with your choice

Ha ha ha

 

[Queenkate]

I don't want to open a business. Live and Love and meet new people. Hopefully contribute in some way to the area

 

[Andre14615]

good luck Kate

 

[drstock]

Before I moved here, ten years ago, I looked at both Las Terrenas and Cabarete. Eventually I decided on Cabarete.and haven't regretted it. I have some apartments and live in one of them. I can't say I make much of a profit, but live more or less for free. My friends and I often sit on the beach having a beer and coonsider ourselves lucky. I am in a part of Cabarete called Procab which is a gated community within walking distance of the town and beach and would recommend it. I can also recommend letting agents.

Unfortunately I don't think you have enough posts to send me a personal message, so keep posting and then you can contact me if you wish, for any advice I can give.

 

[GusFring]

Rent first for at least a year. Get to know the marketplace. This is always the most sound advice.

There is no way to understand the complexities and total lack of uniformity when it comes to values here. It takes time to absorb this. Every deal is separate and distinct depending on a seller's motivation.

Rent and live here first for a minimum of one year. That way, if you make a bad play you can only blame yourself.

Good luck.

 

[RDKNIGHT]

That's is a good idea to rent here first.... plus the rents are dirt cheap and remember you have to negation every thing here.. never pay asking price....

 

[Queenkate]

Before I moved here, ten years ago, I looked at both Las Terrenas and Cabarete. Eventually I decided on Cabarete.and haven't regretted it. I have some apartments and live in one of them. I can't say I make much of a profit, but live more or less for free. My friends and I often sit on the beach having a beer and coonsider ourselves lucky. I am in a part of Cabarete called Procab which is a gated community within walking distance of the town and beach and would recommend it. I can also recommend letting agents.

Unfortunately I don't think you have enough posts to send me a personal message, so keep posting and then you can contact me if you wish, for any advice I can give.

Thanks for the information

I’ll look up procab

 

[Queenkate]

That's is a good idea to rent here first.... plus the rents are dirt cheap and remember you have to negation every thing here.. never pay asking price....

I may just do that
Thanks

 

[Queenkate]

Rent first for at least a year. Get to know the marketplace. This is always the most sound advice.

There is no way to understand the complexities and total lack of uniformity when it comes to values here. It takes time to absorb this. Every deal is separate and distinct depending on a seller's motivation.

Rent and live here first for a minimum of one year. That way, if you make a bad play you can only blame yourself.

Good luck.

thanks for your insight

 

[lifeisgreat]

She didn't say she was depending on the rental income to survive. Many people rent out their units to help pay expenses. It's a tourism destination - so why not?
I rent out my own, and help clients with managing theirs. It's not rocket science, but you should have some real estate experiance to get max returns and avoid problems.

No she said she is not full time resident...meaning other people will be taking care of place and managing...you might be doing bang up job and give a $hit about your clients! Let’s be real most don’t 80% face disappointment in there investments here..so there are few and far between that can say they succeeded in North Coast investment...absentee ownership is doable, I do it but lucky I have good people I work with...Coming on this board asking about investment in Dominican and not sure even where Togo yet is newbie and sharks smell blood here...what’s saying inDR rent before buying make sure your happy not stuck..

 

[ctrob]

...you might be doing bang up job and give a $hit about your clients!

I am and I do. Been in resl estate/construction since I was 10. So I've been around the block once or twice.

Togo?